think as long as germany has the political will to stand behind it which i which i question we should not do that but as long as we do it it will probably can go on for another four five six years and what about the german people and what is their political well in the german population to carry on supporting. so so not really but the political class almost unanimously it wants to support it so there are some dissidents but it's part of the german reason of state that we're good europeans that we're good citizens of the world but. for this we've forgotten and that was my what my dissertation was all about fifteen years back but we forgot that germany also has interests national interests of its own which of course we should cooperate and of course we should be good partners but we don't have to do everything and so but the political class is firmly behind the euro so in this case it doesn't matter what the population is thinking are you one who believes that as a concepts the euro is fundamentally flawed basically within

a currency area have to have flexible factors of production capital labor goods industry and we don't have that in continental europe labor is not moving freely capital is moving freely goods are moving freely but as long as you don't have fully flexible markets you don't have an optimum currency area and also between germany austria the netherlands the benelux states we did have a defacto union currency union for decades they just did and they just followed the bundesbank and nobody talked about it worked perfectly but within that region you basically had an integrated market but to throw together greece and spain and italy and portugal and ireland and germany is sheer lunacy i mean sheer lunacy and they said we throw together so we'll grow together but that is not promoting growing together the other way around would have been better to liberalize markets

to keep national currencies to be able to just to shocks like this so what should we do you know that should be you're using be slowly but steadily dismantled should we wait for the u.s. to collapse and it's a ideally i would go back to a core europe and i would let the doc return and the proceed to return and the lira return and we still would have a european union it's not like it would be the collapse of the european union quite to the contrary if we allow those. countries to set their own economic policy again and to be sovereign in their currencies we would do europe a service we're doing europe a disservice by having this artificial currency imposed on it it can only lead to political tensions like in greece where the greek population now has to suffer taxpayers germany has to suffer the only ones that didn't suffer in greece were the banks because they were fully rescued so that's to me is a deal that is not quite equitable

a european central bank or recently said that countries leaving the euro is a would essentially be committing political and economic suicide what's your no not at all i mean it's of course very difficult to leave because you would have to do a lot of administrative measures you would have to prepared very well and of course international capital may be shocked for a moment but in the end was the right supporting measures it would need some preparation it would need careful planning it would need careful execution but of course you could return the greek to the drachma and you could support it you still could support it with credits i mean the european union could step in with credit for a traditionally period but we just would not underwrite the euro we would underwrite the greek economy as a sovereign but integrated nation are you a fan of the choice mark for the torch marks sake. no i'm a fan of the deutsche mark because it was a good currency in the bundesbank was a good institution and i think the rules that we had then were good rules for

germany and also for europe i mean what what happens if you have a strong economy like germany's of course the doj mark would appreciate over time which again would help the neighboring economies to export more so it would give purchasing power to the germans and so good by itself being neck mechanism off adjustment in the end a market mechanism that would help if you have a crawling peg or something it would help adjustments to come more easily and adjustments that would be good for everybody but hasn't europe be more stable than the choice mark was in the ten and twenty years leading up to the year race introduction and lower inflation might as well isn't that a measure of the euro being quite a successful currency well we have to talk about that inflation if it's really low if the official inflation rate measures all that is to measure but in the end you had wage inflation you had goods inflation in spain in italy in greece that leads us to the current problems if we had to trust them in between meaning revaluation

of the dodge market devaluation of the present which we didn't have so what we did was postponed adjustments. and create unhealthy structures and unhealthy development saw as long as we don't have total economic union which we won't have for a long time we should not have one currency as an investor what would you rather put your money behind to watch michael the way. i am an investor and i'm not putting my money behind any paper currency i buy stocks which is real assets stocks are tied to the economy they're not dependent on the currency per se i buy gold or buy sell via buy agricultural land i don't buy bonds bonds or paper money and we have a highly inflationary and unstable and solid monetary policy as a reaction to the crisis i mean i think as an emergency measure it was ok to print all that. money because otherwise we would have had a real collapse so it's time to move back to normal and we don't do that we continue printing money and the economies are growing at an in their make pace the

most so i'm not putting my money behind any state behind any bond behind any paper currency i'm buying real assets or they germany's economy is doing much better than was expected following that the crisis is and it's i think i just did the best second quarter grace rates that i had for twenty is it's a question of how you measure those things because we fell down quite a bit but that's because of our export dependency so the economy went down a lot because exports basically imploded and now they're coming back so we have this swing but yes in the end we have a strong economy we have lots of market leaders we still have the middle stunned the family on middle stump companies so i actually am investing quite a lot in those middle ston companies but also in some of our blue chip companies what do you think the effect of a collapse in the year is a would be on the regional and global financial markets some are saying that it would be a disaster on the scale if the collapse of lehman brothers yes it could be drastic

but again i'm not expecting it any time soon because i think germany for the wrong reasons will subscribe to the euro but it will underwrite it move continue to underwrite it so we won't have that but in case it happened it depends on whether it will hit us prepared or non prepared and right now we're doing everything to prevent it but we're not preparing for the case that it might happen that that's the fallacy in my we should have a plan b. and if we don't have a plan b. it could indeed be drastic and what would your plan b. be of course a plan b. is to think about return to national currencies or to return to the market are korea southern bloc or whatever to have currency union some economic regions that are more similar that are more homogenous and we don't have that we should at least start to think about it because it's not going to be the end of the world i think even it's it's pro. but you don't have to go islam you just have to admit that it's not going to be the end of the world and that we have to think about those things and policymakers and officials should think about it so they have plan b.

more countries are joining the euro zone all the time the next one is going to be a state which will take its place on the first of january next year how does more diverse economies joining affect the stability of the euro i don't think much because the euro is already unsustainable unsustainable in the very long run it's already too. diversified to many different countries so if the two or three more want from from the fringes it's not going to be more different but of course i'm in favor of strengthening europe the european union but in my point of view again the euro has nothing to do was a european union rightly could see. us also thank you very much thank you.

discover it. more news today. these are the images the world has been seeing from the streets of canada. operations are all.

in the czech republic he's available in a hotel assayas central hotel premier a. full stomach would show him a taste in bosnia and herzegovina available in. and out of each. foot you know. in serbia multis available in. the sea. seventy years of the red machine which people wanted to leave in the past. week to make changes to society. but it wasn't possible to change the whole country's regime so quickly.

chronicles only fundamental changes in the state people's minds on. wealthy british style stock. markets. can. find out what's really happening to the global economy stronger for a no holds barred look at the global financial headlines two kinds a report. forty two thousand americans die each year from car accidents only a thousand. seven hundred thousand people. and thirty two thousand will kill themselves cancer in all its forms kills five hundred sixty thousand of us a year apart as. this is even more devastating it kills over eight hundred seventy

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the head of a russian. invasion has been jailed for using tough treatment and techniques because many supporters say he's achieved that with origins of failed that his methods got results. three years a frosty under the russian relations reasons foreign secretary comes to moscow as both sides do bridges nations between the two countries have been especially strained since the murder of a firm of teaching office in london two years ago. after the media panic of a ton of trials being held and i've gotten the first detainees appearing in court microbus you see troubles misspelt materialized in street news outlets the story on the back burner. and one in

a to british households has been one look at the cable bust major nations generous welfare systems and people are always better off on benefits. or sneeze the next night with you neal. without your company this is sports today i'm you know neal and these are some of the stories we're covering this hour top of the table russia's footballers rise to the summit in european qualifying who would be following one they'll win away to us until the. best of the rest we've got highlights from other games across europe including in glasgow where winning champions spain were given a scare by scotland. on strength and brotherhood that's the motto fully in the first ever caucuses games culture reports in a few moments time. it's been

a holy successful week for the russian national football team dick of the cabin coast scooping up all six points on offer from there to away games a win against ardent followed up by another over muscle on tuesday richard on port plate he was in skopje for us. russia when two thousand and ten on top of group b. harper tough one no victory in macedonia but the russian showed nowhere near the same kind of pride football but they managed to show it on in just a few days ago the most important thing is that because i did later on its behalf i should come away from too tough a way trades with maximum points or a virgin of the way. most of those. from the dirty side but if you have six points and so the way to do her work was not a good performance but there were. so you know there's a question. is was there a five strike from the exam because your cough after only eight minutes was enough to give the russians picturing the end we could about it more as they were dominant

in the first time off probably going to slip him a second period and macedonia could about a share of the spoils pops deservedly how do you know i can fear not save a second home penalty i think of a cabaret went on to say it was difficult for russia to cope with so many are playing so many long bolz. this is true allies a better team to lure to be thought of does go will be more dual gold because this is a very. little room. because of the pressure they get some opportunities out of rome out of football but once again alexander excellence has been in great form for his club sides needs over the last month or so by trying to carve out form over to the national side but a high praise from his manager tick of accounts because you're obviously himself is very don't whited but he said the pitch certainly didn't help russia. much might say that the pitch conditions were a little bit more difficult tonight two than they would niall and the bounce of the ball was very unpredictable which added to the challenge however we control the

tempo with macedonia using the long ball against us because we could have schooled more but one new and three points is a good result. russia came into being too tough away matches on the great pressure following september's defeat to sack year but a combination of a bit of luck and results going by way of sonny painted a rosy picture of a cat is confident going into the second half of the qualification campaign. we were anyone ever lost against. brazil we are doing that. it is improving and every go in there we go to work like this. so russia toggery be on mine points off the four games and pick up a cavalier plenty of time to prepare his side of the next away trip to lots of dark causes of the group so far mania and not much will get under way march. the scope here macedonia. also on the night in the same group slovakia and the republic of ireland shared the spoils in paris to finish ledger open the scoring sixteen

minutes in before yonder writs headed in an equaliser twenty eight minutes after the mr ravi keane penalty then cost the visitors leaving the finals four one one in . surprise package armenia followed last week's win over the slovaks with another one against. keeping the highlanders well in the polls. but it is russia who will close in on the rest of the euro two thousand and eight semifinalists leading by two points from the trio of. remember only table toppers on high placed second seeded teams qualify automatically for ukraine and poland still a lot of football to be played with half a dozen games to go wild though. plenty of action elsewhere on the night in glasgow spain managed to keep their one hundred percent record intact but only just against a buckling scottish side after first tough david vs penalty. to be cruising by the

time. fired home number two on fifty five minutes but helped on by the famous. the scots promptly how the deficit through the head of steven naismith. and then on sixty six minutes the free flowing home side how did another great build up leading to piquet nudging the ball into his net for two. but then all the hard work was. only in the park for two minutes left all alone to finish the seventy six minutes three chief spain and heartbreak for the scots. in the team to win the world cup this summer the netherlands faced little resistance in their clash with sweden the spine losing the influential coit to an ankle injury early on that stage made it sue and thirty six minutes ago he finally finishing off the first of two for him the same and then showed some nifty all footwork to set up huntelaar second.

after that the dutch took their foot off the pedal somewhat allowing sweden to nab a consolation goal through the drunkest but by then the hard work. two thousand and four european championship received in the driving seat in group f. are in a huff is not the one to break the law thanks to. demetrius so this is really better than the results this year he said on were fully deserving of their equaliser. getting the final touch here later the deciding moment. ended in the israel penalty leading to the. two and. those. serbia much was

abundant after seven minutes. fireworks constantly being thrown on to the pitch towards. the game. italy more than. three. victory the shock of the evening was in. turkey. austria share of the spoils. in the same group a. memorable night at the expense of northern ireland group c. . beating by switch. next week. to watch a little tennis in the kremlin cup is just the ticket will headline the men's drawl while francesca schiavone will be joined by cried favorites. in the women's tournament. the kremlin cup is the oldest competition around here in russia

we've been here since the day our state was founded no other sport has a similar event so we're very proud of the cup being the backbone for russian tennis which has been pretty successful on its own capitalist of two hundred five countries and all around achievements over the last ten years. finally one of the proudest moments and scythe russia sporting heritage has come to a close they know we're girl caucuses games holy memorable event for the region our correspondent robert for done in reports on the tournaments which aim to discover just who is the toughest of them all. because. once upon a time in the mountains some prole worse came together to test their strength

against each other sounds like a fairy tale but it wasn't it was the first ever games. to sell the russian republic. to host teams from neighboring areas including the. making of the field over two hundred athletes were on hand to compete in locally they were the events such as double war and powerlifting and also more specialized areas like skilled walking. the main goal of this festival is to bring the people of the caucasus together to meet communicate and make friends it's like a cultural exchange and all of us should unite for the sake of peace throughout russia and indeed globally the region is renowned as a risking both house and the inaugural caucuses game has brought that to life and mention way of settling scores built wrestling as sport which was woman welcomed by

fans and put his pencil like. i've already primed for ten years while belt trashing has a completely new experience for me but i liked it very much as a truly man's sport to raise you should be strong smart and persistent was wrestling one of the simplest ways to find out who stronger aiming to go. is in the city here just. the two thousand and nine european fifty five gory went into the event as one of the favorites despite being against men if ten kilos heavier. the pocket rocket going over the top against all challengers. it was tough against the bigger guys i was ready for that in any sport and in particular if you've got the will. you can beat anyone or. local.

claimed victory at the games meeting next year that held at the same location the organizers already promising that in twenty. at the games crease. r.t. so the russia. well. in the world weather is coming up in just a moment. for the full. voice face to face with the.

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taking the drugs fight too far ahead of an explanation used to using tough treatment techniques is jailed but his supporters say he got results. last year anglo russian relations the british foreign secretary arrives in moscow as both sides attempt to build bridges their relationship. you know that a terrorist suspect being tried in the more. than bother you does it concern you that this is going on right here. after the media take over gun tata motors trials being held in month not in the first detainees hits court but the son says deafening. the britons better off on benefits look into why the u.k. has more people sitting idle than any other major country. and

it's one pm here in the russian capital you're watching r.t. . being tough rehab for a drug i'd expect kidnapping them and forcing them into extreme treatment is a step too far for the russian courts a group in russia's urals an area which is plagued with a severe narcotics problem waged its own war on drugs despite enjoying widespread public support three people have been convicted of abduction and torture. explains . a drugs raid gets underway and after hours of waiting for a contact to give the signal suddenly everybody is up and running the police are involved but not all taking part in law enforcement officers the raid.